Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

I am leaning towards that you should house hack if you're monthly payment and accounting for capex/opex/reserves make sense.

The amount of money most people carry in their checking account fluctuates, but what’s ever there is called reserves.

However I like to run my numbers conservatively and account for cap ex, vacancy, maintenance reserves 10/5-7/5-7% respectively.

NOI Underwriting Methodology: NRI and EGI, real estate taxes, operating expense underwriting rules of thumb, replacement reserves, appraiser’s impact on lender underwriting, expense comps, etc.10. 

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

It can certainly be done, but I'd recommend having a solid contractor on your team and holding a fair amount in reserves. 

I also have some cash reserves that I plan to dump into a contingency fund for each unit. 

I would consider selling one of the properties, paying off the debt, creating a reserve for your remaining investment, and ensuring you are 100% financially stable before you invest again.

My recommendation is to save money through your W2 until you not only have enough for a down payment but a reserve for repairs as well.